Upstate Shredding – Ben Weitsman Continues Acquisition Run

Upstate Shredding – Ben Weitsman, headquartered in Owego, N.Y., has announced an agreement to purchase Genesee Scrap and Shredding, located in Rochester, N.Y. The deal is expected to be complete by the end of March 2011.

In announcing the deal, Upstate notes the purchase is its largest acquisition to date. Top Genesee executives, including its CEO Louis Atkin and General Manager Aaron Weiner, will remain with Genesee.

“I was approached by Upstate Shredding, which is privately owned, and two publicly traded scrap companies in the last six months regarding the acquisition of Genesee. My respect for Adam’s (Weitsman, president of Upstate Shredding) work ethic and company synergy led us to make this decision,” says Atkin. Genesee is a full service scrap metal recycling and auto shredding operation operating in the greater Rochester area.

“Genesee is an old time scrap business with diversified services running an older, smaller auto shredder. Upstate is currently consulting with Riverside Engineering, a leading manufacturer of metal processing equipment, on a major upgrade to the Genesee shredding operation,” says Adam Weitsman, president of Upstate Shredding.

“We will be installing a new shedder, between 6,000 and 10,000 horsepower, as well as making substantial improvements to the non-ferrous separation system,” adds Steve Green, Upstate’s vice president. “We will continue our good-neighbor policy in Rochester by upgrading to the highest operational, equipment and aesthetic standards and supporting community improvements. As a company, with the added Rochester facility and the newly announced Pennsylvania locations, we will handle just under one million tons of ferrous scrap per year. It not only adds to our feeder yard system, but most importantly we plan to increase shredding capacity there to decrease transport distances from some of our current sources and serve further acquisitions as we expand westward,” Green adds.

Improvements scheduled for the Genesee site include a new stormwater systems, paving dirt yards with asphalt to prevent ground contamination and control water runoff, noise abatement, upgrades to yard equipment and trucking fleets, renovations to structures and adding attractive landscaping.

Adam Rosenthal, Upstate’s director of acquisitions, says, “We expect to announce another acquisition in Pennsylvania within a week. We are now focusing our full attention on further expansions in western New York.”

The acquisition of Genesee Scrap follows Upstate purchasing Brenner Recycling, Hazleton, Pa., in early February. Further, since December 2009, Upstate Shredding has acquired scrap metal companies in Syracuse, Jamestown and Liberty, N.Y., and Towanda, Pa.